ION Geophysical Rises On Unusually High Volume (IO)

NEW YORK ( TheStreet) -- ION Geophysical Corporation (NYSE: IO) is trading at unusually high volume Friday with 7.6 million shares changing hands. It is currently at 4.9 times its average daily volume and trading up 20 cents (+3.2%) at $6.39 as of 4:02 p.m. ET.

ION Geophysical has a market cap of $946.1 million and is part of the technology sector and electronics industry. Shares are down 4.4% year to date as of the close of trading on Thursday.

ION Geophysical Corporation provides geophysical technology, services, and solutions for the oil and gas industry internationally. It operates through four segments: Solutions, Systems, Software, and INOVA Geophysical. The company has a P/E ratio of 30.4, above the average electronics industry P/E ratio of 29 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates ION Geophysical as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and a generally disappointing performance in the stock itself. You can view the full ION Geophysical Ratings Report.

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